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Clear Revenue/Cost Balance in Cloud in previous year.

  • July 30, 2025
  • 2 replies
  • 40 views
R
Hero (Customer)
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Hello, has anyone upgraded to Cloud version and then reopened a prior year?   We have gone from Apps9 to 24R1.2 and after reopening 2024 year and entering some reclass vouchers, the “clear revenue/cost balance” job is not finding the amounts to clear.   I’m then left with a balance in this section of accounts.  When I try to run the job I get this message:

If I performed the exact same steps in Apps9 there were no issues. We are also testing service update 12 and same scenario.   I’ve logged a case with IFS but wanted to ask the community as well.  ​@Nancy Fink  any change in year end process in Cloud that I may be missing?  Thank you.

Best answer by Thomas Peterson

Hi, 

 

During the YE process, IFS tests for the total balance (Rev-cost). If the total is 0, IFS does not force clearing of individual accounts.   In other words, the balances of P&L accounts (individual balances) can be any number. The true test is the total of all P&L.

In a number of areas in the world, they don’t clear the account balances, they make a simple entry from a P&L account (last year's profit for example) to equity. 

Given the message, it appears you already balance.  If you feel the need to clear every P&L account, you can do that with a journal entry.  Otherwise, from a IFS software perspective, you should be OK for the preliminary year end and follow up with the final year end. 

2 replies

T
Superhero (Employee)
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  • Thomas Peterson
  • Superhero (Employee)
  • 1111 replies
  • Answer
  • July 31, 2025

Hi, 

 

During the YE process, IFS tests for the total balance (Rev-cost). If the total is 0, IFS does not force clearing of individual accounts.   In other words, the balances of P&L accounts (individual balances) can be any number. The true test is the total of all P&L.

In a number of areas in the world, they don’t clear the account balances, they make a simple entry from a P&L account (last year's profit for example) to equity. 

Given the message, it appears you already balance.  If you feel the need to clear every P&L account, you can do that with a journal entry.  Otherwise, from a IFS software perspective, you should be OK for the preliminary year end and follow up with the final year end. 

R
Hero (Customer)
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  • Rcoubrou
  • Author
  • Hero (Customer)
  • 132 replies
  • July 31, 2025

Thanks Thomas.   It just seems odd in Apps9 the functionality was to clear it within itself (if only P&L was impacted) and now in Cloud it’s not.  We’ve used IFS for over 17 years and now we have to manually create a period 13 entry to clear it, which is a total step backwards.    If not all countries require this, should be a flag on the company set up form to identify it as a requirement or not in my opinion.  Let the company choose whether to drive this or not automatically. Very inconvenient.😞   


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